TORONTO,
Jan. 26, 2015 /CNW/
- Biosign Technologies Inc. (TSXV: BIO)
("Biosign" or the "Company") announced its Board of Directors has
decided to withdraw from the acquisition of QLINE Solutions Inc.
("QLINE"). The Company had executed a Share Purchase Agreement
under which Biosign acquired 100% of the issued and outstanding
shares of QLINE for a total price of $3.03
million including $830,000 to
be paid in cash and the issuance of 44,000,000 common shares of
Biosign at an ascribed value of $0.05
per share. Only $30,000 of the cash
portion has been paid which will be retained by the sellers and all
44,000,000 shares held in trust will be returned to Biosign for
cancellation.
Biosign Chairman & interim CEO Michael Gross stated: "We have decided that it
is in the Company's best interest to withdraw from this acquisition
and focus on investing in our AioMed Home Care and our ClinicServer
Allied Health Care software platforms which we intend to deploy in
major markets worldwide".
About Biosign Technologies Inc (TSXV: BIO)
Biosign is a developer of world class healthcare software solutions
targeted at the Home Care and Allied Health Care markets. The
Company's various software divisions, including ClinicServer™, EESI
Corporate Benefits and AioMed GmbH offer industry-leading Home
Healthcare and Allied Health clinic management solutions to
international companies and service providers worldwide. For more
information on Biosign, please visit www.biosign.com.
Forward-Looking Statements
This release contains forward-looking statements.
Forward-looking statements, without limitation, may contain the
words believes, expects, anticipates, estimates, intends, plans, or
similar expressions. Forward-looking statements are not guarantees
of future performance. They involve risks, uncertainties and
assumptions and Biosign's actual results could differ materially
from those anticipated. Forward looking statements are based on the
opinions and estimates of management at the date the statements are
made, and are subject to a variety of risks and uncertainties and
other factors that could cause actual events or results to differ
materially from those projected in the forward-looking statements.
In the context of any forward-looking information please refer to
risk factors detailed in, as well as other information contained in
the company's filings with Canadian securities regulators
(www.sedar.com).
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Regulation Services Provider (as that term is defined in policies
of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release.
SOURCE Biosign Technologies Inc.